On January 1st, 2020, Constellation Corporation purchased new equipment paying $75,000 cash on...
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Accounting
On January 1st, 2020, Constellation Corporation purchased new equipment paying $75,000 cash on the purchase date and agreeing to pay $25,000 every year over the next six years. The first payment is due 1 year after the purchase date. Constellation Corporation's incremental borrowing rate is 12%. The equipment reported on the balance sheet as of the purchase date is closest to: $165,119 $225,000 $177,785 O $190,119 $75,000
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